Tomkins Industries Inc., Dayton, Ohio, replaced two investment options in its 401(k) plan and hired Financial Engines to provide online investment advice for participants in its 401(k) and profit-sharing plans, which have combined assets of $260 million, said Janet Miller, manager of retirement accounting and administration.
Tomkins switched to Vanguards institutional S&P 500 fund from the retail version, and to an international fund of funds offered by Frank Russell, replacing one offered by GAM International, Ms. Miller said. Other managers for the 401(k) plans seven investment options are INVESCO, PIMCO and Wasatch, she said. It also offers self-directed brokerage accounts, run by Schwab, that contain only company stock.
Northern Trust, which provides administration, record keeping, communication and education for both plans, has business ties with Financial Engines, making the back-office connection between the two easier, Ms. Miller said.